Part 8/9:
Finally, the necessity of maintaining a robust emergency fund sparked debate. Some believe that once a strong investment portfolio is established, a smaller emergency fund suffices. However, both Amanda and Mindy cautioned against this viewpoint, arguing that unexpected expenses can arise at any time, and a healthy emergency fund is essential for financial stability.
Having too little cash on hand could lead to unnecessary stress during emergencies and can impact long-term financial goals significantly.